BioCentury
ARTICLE | Company News

Array BioPharma hematology, cancer news

August 12, 2013 7:00 AM UTC

Array said it cut headcount by 20% to about 200 to focus development and commercialization resources on hematology and cancer programs. Array said the headcount reductions came mainly from its drug discovery organization, which the company now plans to fund through partnerships. The company said it plans to determine Phase III or pivotal trial plans for ARRY-520 and ARRY-614 by year end. ARRY-520, a kinesin spindle protein ( KSP; Eg5; TRIP5) inhibitor, is in Phase II testing for multiple myeloma, and ARRY-614, a P38 mitogen-activated protein (MAP) kinase and tyrosine kinase receptor 2 (Tie2) inhibitor, is in Phase I testing for myelodysplastic syndrome (MDS). The company expects the reduction to save over $10 million annually. At June 30, the company had $108.7 million in cash and a 12-month operating loss of $39.5 million. ...